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Dec 11, 2012
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what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation. >> doesn't matter. >> it doesn't matter. >> market's going up. you want to be a part of it. >> the market, you are being forced into risk assets. it looks like europe is improving. looks like i merging markets are improving. there's other places for the flows of capital to go. not just the u.s. >> i think boehner sounded like today he was overplaying his hand a little bit. if you step back from the rhetoric, the back and forth posturing in washington, i think you have a market that if you look back in october, the s&p was trading 1470. it pulled all the way back afte
what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation....
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Dec 31, 2012
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that's where the markets currently sit as lawmakers in washington continue their 11th hour of negotiations. cnn's amen jabbers is live at the hill with the very latest.
that's where the markets currently sit as lawmakers in washington continue their 11th hour of negotiations. cnn's amen jabbers is live at the hill with the very latest.
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Dec 4, 2012
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it seemed at that moment when the s&p was trading there were policy makeers in washington, d.c., responded to the market. pelosi talked about the market on that friday, and that's where the encouragement came. i think where we sit now the market is going to force the hand of d.c. policymakers. i still think we get a fiscal deal cliff done. the data we saw yesterday was lousy. the employment component was the worst we've seen since september. i think on friday we're going to get a horrible unemployment report. i think the market is going to force the hand here to get a deal done. this is a tactical call. >> joe has gone a little sour on the market. where do you stand today? >> i'm going to stay as pos 0 tiff as a week ago. you look at the s&p and that's why i will stay positive. sitting around 1407. it broke through key levels and has moved back higher. 1425 on the s&p for an area to break above. so i think i will agree with joe, though, that right now with the data you have seen, with the ism number you saw yesterday, washington has to get something done. i think a deal will get done and t
it seemed at that moment when the s&p was trading there were policy makeers in washington, d.c., responded to the market. pelosi talked about the market on that friday, and that's where the encouragement came. i think where we sit now the market is going to force the hand of d.c. policymakers. i still think we get a fiscal deal cliff done. the data we saw yesterday was lousy. the employment component was the worst we've seen since september. i think on friday we're going to get a horrible...
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Dec 13, 2012
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boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our business is, it's a relatively low barriers to entry. consumers can buy the luxury of our beauty for $17, $18, $25, $30. this is not a huge investment. and so we're finding a lot of consumers are finding their way into beauty because they don't want to spend $1,000, $2,000 or $3,000 on very luxurious, larger items like a handbag or a new car, for example. so beauty has its frequency shoppers. but that being said, overall, if the consumer is not certain she has the disposal income, perhaps she holds back a little bit. >> sir, one of my
boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our...
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Dec 31, 2012
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to our way of thinking, what's happening in washington is not favorable. it is dysfunctional and it does speak with the debt ceiling one or two months forward to a potential for deficits to remain in the trillion dollar category going forward. so as that symptomatic or emblemattic of a type of credit, perhaps not. we would very much watch the fiscal situation as it develops over the next several years and the ability to reduce entitlements, to raise taxes, to bring it into balance. >> and finally, bill, before i let you go, 2012 will certainly be remembered for the statement that you made that the cult of equity is dying and whether it's jack bogul that was on the program who says he disagrees, and you can say he was talking his book as others say you were talking yours, but you get the idea he disagrees with that. many other people on this network flat out disagree with that statement. what would make you change your mind and do you regret making that comment? >> well, first of all, you have to understand, i said that the cult of equity is dying, i didn't
to our way of thinking, what's happening in washington is not favorable. it is dysfunctional and it does speak with the debt ceiling one or two months forward to a potential for deficits to remain in the trillion dollar category going forward. so as that symptomatic or emblemattic of a type of credit, perhaps not. we would very much watch the fiscal situation as it develops over the next several years and the ability to reduce entitlements, to raise taxes, to bring it into balance. >> and...
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Dec 26, 2012
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meeting and you still have this problem that we have in washington called the fiscal cliff. i just don't like the way that one's playing out. the reason that's important is that when the market gets into risk op mode they tend to sell the dollar and buy the yen. >>> what kind of levels are we talking about? >> right now we're sitting around 8570. i would comfortably sell the dollar against the yen there. i would put a stop loss at 8715 and my target is 8265. >> nice to see you. hope you had a good holiday. look forward to catching up with you. >> likewise. >> guys, what do you make of what we've seen in dollar yen? weiss, do you have a play? doc? >> well, their market turned on this pretty dramatically. it posted up 1.5% gain on the weakness out of the yen. so if that continues into next year, scott, which based on what he's just said that will not happen, in other words, we're looking at more down side pressure, i think that's good for the markets though. >> joe, tell me why the viewer watching right now should care about what the yen does? >> they should care. this is a se
meeting and you still have this problem that we have in washington called the fiscal cliff. i just don't like the way that one's playing out. the reason that's important is that when the market gets into risk op mode they tend to sell the dollar and buy the yen. >>> what kind of levels are we talking about? >> right now we're sitting around 8570. i would comfortably sell the dollar against the yen there. i would put a stop loss at 8715 and my target is 8265. >> nice to see...
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Dec 19, 2012
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this is not some washington commission. this is not something where folks are going to be studying the issue for six months and publishing a report that gets read and then pushed aside. this is a team that has a very specific task, to pull together real reforms right now. i asked joe to lead this effort in part because he wrote the 1994 crime bill that helped law enforcement bring down the rate of violent crime in this country. that plan, that bill also included the assault weapons ban that was publicly supported at the time by former presidents, including ronald reagan. the good news is there's already a growing consensus for us to build from. a majority of americans support banning the sale of military-style assault weapons. a majority of americans support banning the sale of high-capacity ammunition clips. a majority of americans support laws requiring background checks before all gun purchases so that criminals can't take advantage of legal loopholes to buy a gun from somebody who won't take the responsibility of doing
this is not some washington commission. this is not something where folks are going to be studying the issue for six months and publishing a report that gets read and then pushed aside. this is a team that has a very specific task, to pull together real reforms right now. i asked joe to lead this effort in part because he wrote the 1994 crime bill that helped law enforcement bring down the rate of violent crime in this country. that plan, that bill also included the assault weapons ban that was...
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Dec 7, 2012
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know, catastrophic news out of any part of the world or washington. >> do doors start to open a little bit? i keep hearing 1419, 1420. is there anything special about it? >> you could get into the technical range. that's a level people would to hit or head a few times or barack through it. i don't think we'll have enough fuel to burst through the tank but perhaps we'll see something. >> joe, have a good weekend. >> thanks. >> that does it for us here on a friday morning. let's get back to headquarters. wapner and the fast money half time. >> here is where we stand. take a look at the nasdaq right here in the red as we speak. here's what we're following on halftime today. on notice, netflix's boss reed hasting gets a warning from the s.e.c. what does it mean for the beaten down stock and the company's future? >>> food fight. mcdonald's shares looking golden to one wall street firm. our buyer and seller square off in a super-sized debate. but first our top story, apple's rotten week. the stock's on track to have its worth week in 2 1/2 years. all told more than $40 billion in market cap
know, catastrophic news out of any part of the world or washington. >> do doors start to open a little bit? i keep hearing 1419, 1420. is there anything special about it? >> you could get into the technical range. that's a level people would to hit or head a few times or barack through it. i don't think we'll have enough fuel to burst through the tank but perhaps we'll see something. >> joe, have a good weekend. >> thanks. >> that does it for us here on a friday...
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Dec 17, 2012
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but you still have the stuff in washington that's holding back everybody and everything. the question is how much does it mean and what will it do when you're holding back people from the end of the year because if it does blow up the market will probably go down 2% or 3%. >> that was david tepper earlier this morning on "squawk box" discussing his call on the market if we go off the cliff. he also taubed a lot if we don't go off the cliff, what could happen. he said in his words stock looks cheap relative to a rich bond market. you agree with tepper? >> absolutely. we were just talking about at the commercial is it's not just here in the u.s. there are things that are getting better internationally. china we talked about for several months now. i think europe the data points are getting no worse. i think that could be source for upside for 2013. imagine if you get this unknown here in the states plus all of this global liquidity. i think it's very powerful and positive. >> steve weiss, tepper whom i know that you know well says the obvious. in that d.c. could screw it al
but you still have the stuff in washington that's holding back everybody and everything. the question is how much does it mean and what will it do when you're holding back people from the end of the year because if it does blow up the market will probably go down 2% or 3%. >> that was david tepper earlier this morning on "squawk box" discussing his call on the market if we go off the cliff. he also taubed a lot if we don't go off the cliff, what could happen. he said in his...
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Dec 18, 2012
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with these interest rates and this fed, of course it's cheap but you still have the things going on in washington that is holding back everything. the question is, how much does it mean and what will it do and you're holding back people from the end of the year and the market will go down 2, 3%. >> much harder than that and the point that temper is making, stocks are cheap, the fed is your friend. your reaction? >> stocks aren't cheap. it's 12 times a number that is fantasy for next year. they are trading 15 times trailing earnings over the last 30 years the stock market is rich. so that would be point number one. point number two is that the fed is not your friend. the best periods for equity return is after the fed realizes policy, not when they have their foot on the gas. the late '40s and late '50s. i'm sure all of us will remember 1995, for example, after the fed inverted the yield curve, clinton and gingrich were threatening to shut down the government. green pan thought there was a chance that we were going into recession. but that was after they actually normalized policy. the same thing
with these interest rates and this fed, of course it's cheap but you still have the things going on in washington that is holding back everything. the question is, how much does it mean and what will it do and you're holding back people from the end of the year and the market will go down 2, 3%. >> much harder than that and the point that temper is making, stocks are cheap, the fed is your friend. your reaction? >> stocks aren't cheap. it's 12 times a number that is fantasy for next...
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Dec 20, 2012
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nobody wants to try to predict washington. so i think focus longer term and establish your asset allocation, your portfolio based on your own needs, your own time horizon, your own risk aversion. don't get caught up in the moment because investors that do that get whip sawed. >> thank you. it's great talking you. we wish you the best. >> it's been great talking to over the years. >> we hope the next chapter of your life is as fruitful as the first. coming up, two strong opinions, a good old fashioned street fight. one big one is coming up next. >>> we come back to fast money halftime report. this is herbalife's bill ackman's statement. mr. ackman has been quoted on cnbc saying be weary of companies that restrict or cause access to their earning calls. but when we ask to participate in today's conference he pointedly refuse us access. now we know why. had our executives been there, they would have been able to tear mr. ackman's business model apart. his mistakes are too many to address immediately. so scott, this is probably no
nobody wants to try to predict washington. so i think focus longer term and establish your asset allocation, your portfolio based on your own needs, your own time horizon, your own risk aversion. don't get caught up in the moment because investors that do that get whip sawed. >> thank you. it's great talking you. we wish you the best. >> it's been great talking to over the years. >> we hope the next chapter of your life is as fruitful as the first. coming up, two strong...
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Dec 27, 2012
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>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is not an immaterial risk. positioning portfolios, this is not an environment to hide and cash in treasuries but not blindly buy any and all equities out there, you pick the risks you take, buy quality dividend companies to protect those portions of your portfolio you're taking some equity risk with. use covered calls and sell options to cap your upside but give you extra cash flow in the other two environments, then use other defensive mechanisms, risk taking but still defensive in orientation. high yield bonds, bank loans, sovereign debt in the emerging markets getting 5-7% interest payme
>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is...
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Dec 10, 2012
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that the game, the quarterback position has been revolutionized this year with what rg3 has done in washington and how that offense has changed to fit his skill set, a guy that kind of is similar to mine and then russell wilson what he's doing with his stature and drew brees, as well. >> there's a major argue in "the wall street journal" today about how the changing face of college football and this conference realignment, maybe four super conferences and a lot of it has to do with television. if you weren't in the acc, texas a&m swimping into the s.e.c. excuse me, if you weren't in the s.e.c. and you had to play alabama you think you could have won an award like this? >> it would have been a lot more difficult. the big dwell is a great conference. i don't feel like it has the power that the s.e.c. does and think everybody that's involved in the s.e.c. feels like it's the best conference in the country for a reason. so with the tv and stuff, we were on tv a lot more this year than we have been in the past. so it was good to get noticed a little bit more, and then to play some of the best teams
that the game, the quarterback position has been revolutionized this year with what rg3 has done in washington and how that offense has changed to fit his skill set, a guy that kind of is similar to mine and then russell wilson what he's doing with his stature and drew brees, as well. >> there's a major argue in "the wall street journal" today about how the changing face of college football and this conference realignment, maybe four super conferences and a lot of it has to do...
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Dec 21, 2012
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half as the economy teethers on the edge of the fiscal cliff we have the trade you need to make if washington sends us over. we'll zero in as well on one of the best trades of 2012. can it continue to make shareholders smile in the new year? we'll show you what it is and how to play it. we'll also trade a little mobile payments i think when we come back. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national let
half as the economy teethers on the edge of the fiscal cliff we have the trade you need to make if washington sends us over. we'll zero in as well on one of the best trades of 2012. can it continue to make shareholders smile in the new year? we'll show you what it is and how to play it. we'll also trade a little mobile payments i think when we come back. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your...
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Dec 6, 2012
12/12
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it's dangerous to hear about washington talk the cliff is harmless but i do think the threat of it is so significant and investors are so concerned about it that it does make me think a lot more of the cliff is discounted in current stock prices. >> i'm surprised, tom, in the notes you say you don't think we're going to go off and what would happen to the stock market? stocks and investors have been held hostage by the trading action over the last several weeks. >> that's right. yes, and that's right. so we don't expect us to actually fall off the cliff. our base case and it's something that we spend every week really discussing is that about a third of the cliff is realized, in other words we get about a third of the total impact, two-thirds being deferred and that's already in the gdp forecast, roughly 1% in the first half. that's a scenario that's not going to justify investors being risk off and sitting on the sidelines but the time to recognize that scenario is not going to happen towards the end of the year so i still have this vision of investors being cautious, we get developm
it's dangerous to hear about washington talk the cliff is harmless but i do think the threat of it is so significant and investors are so concerned about it that it does make me think a lot more of the cliff is discounted in current stock prices. >> i'm surprised, tom, in the notes you say you don't think we're going to go off and what would happen to the stock market? stocks and investors have been held hostage by the trading action over the last several weeks. >> that's right....
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Dec 12, 2012
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he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking qe4 what today. the current purchases are $40 billion of mortgage backed securities. they're going to replace operation twist with $45 billion. add it up, that's a total of $85 billion a month. what happens when you annualize that? the existing level of the balance sheet is $2.8 trillion. the expected growth, 85 times the 12 right there. it's going to be up by a trillion by the end of the year if they maintain the pace. well, the level at the end of the year is going to be $3.8 trillion. compare that with the balance sheet before the crisis began of $800 billion. so we're going to add on
he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking...
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Dec 28, 2012
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level of a parent kind of corporate hesitancy about their actual business given what is going on in washington. i don't really think that the tangible stakes are that high for most businesses. it just happens to be this overhang. so i do think that is a major concern and really i think that -- >> you can paint it another way. >> hold it. both you guys said that the debt ceiling is a major concern for corporations. >> yep. >> tell me why that is. i'm on the other side of the fence. i don't agree with that. i think once we get, once the corporations know what the bargain is, the grand -- they have some certainty, the biggest risk is this. >> what is the trade-off to raise the spending limit? the trade-off is likely to be the republicans are going to want spending cuts. that is why it is. >> we've been there before with debt ceilings and we've always gotten through. we put the government on hiatus in terms of spending money but we've always gotten through it. to me that is not the seminole issue. if that is i'm happy to be on the other side of the trade. >> i wasn't saying it is an actual issue.
level of a parent kind of corporate hesitancy about their actual business given what is going on in washington. i don't really think that the tangible stakes are that high for most businesses. it just happens to be this overhang. so i do think that is a major concern and really i think that -- >> you can paint it another way. >> hold it. both you guys said that the debt ceiling is a major concern for corporations. >> yep. >> tell me why that is. i'm on the other side of...